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Advance Group
In this Group: Chiedza, Judith, Rosaria, Rosemary, Dorothy, Lilian, Netsai, Tracy
This is Chiedza, a 41-year-old single mother from Masvingo. She is the mother of a 12-year-old child who is still going to school.

Chiedza is in the retail business of a general store in Masvingo. She has been in the business for six years and has one employee working for her. She gets much of her grocery stock from wholesalers in Masvingo town.

Chiedza has requested a loan of $400 to buy additional grocery stock for resale. Extra income from this loan will enable her to look after her child well. She says high competition in the market is the major challenge. However, she has a vision of owning various branches in and around Masvingo town in the next five years.

Additional Information

About MicroKing Finance

MicroKing's loans are guaranteed against institutional default (failure of MicroKing to repay Kiva lenders if the borrower repays MicroKing) by MicroKing's parent company: Kingdom Financial Holdings Limited.

More About MicroKing
This loan is administered by MicroKing Finance, Kiva’s first partner in Zimbabwe.

MicroKing’s mandate is to provide financial services integrated with advisory services and targeted training to the under-banked but rapidly growing Zimbabwean micro-enterprise sector. The intent is to mobilize the underprivileged as active agents in fighting poverty as well as to accelerate the country’s journey back to economic prosperity where Zimbabwe was once known as the “bread basket of Africa.”

Zimbabwean micro-enterprises are generally run by women and comprise a multitude of business types. Constraints on local production and manufacturing capacity have led to cross-border trading being the most common type of business.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Zimbabwe

  • $400
    Average annual income
  • 3
    View loans »
    Zimbabwe Loans Fundraising
  • $3,221,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Advance Group's $3,200 loan helped a member to buy grocery items for her store.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 7, 2011
Listed
Jan 11, 2012
Currency Exchange Loss:
N/A
Ended:
Aug 1, 2012